RainFocus closes Series C funding round led by KKR
Lehi, UT, Sept. 7, 2021 (GLOBE NEWSWIRE) – RainFocus, the next generation event marketing platform, today announced the completion of its Series C financing round led by KKR, a leading global investment firm. Existing investor JMI Equity, a growth public company that focuses on investing in leading software companies, also took part in the round. Financial details of the round were not disclosed.
KKR invests in RainFocus through its Next Generation Technology Growth Fund II, a global fund focused on growth stock investments in the technology space. The strategic partnership with KKR and JMI will enable RainFocus to further improve its event management and marketing technology platform, expand its global footprint and accelerate its strategic go-to-market initiatives.
RainFocus provides a best-in-class, end-to-end solution for setting up, running and promoting hybrid, in-person and virtual events – with an emphasis on delivering great experiences, seamless connectivity, and powerful data and insights – all with unmatched global security and Scalability. With a flexible and integrated approach to portfolio management and event data, RainFocus is the first platform that solves the challenge of marketing directors to bring events and marketing strategy together through technology. RainFocus’ cloud-based platform supports some of the largest and most demanding event portfolios in the world, including VMware, Cisco and IBM.
âOur company was founded out of the conviction that the event industry is ripe for a change. Existing solutions, both new and old, fail to combine event data with traditional marketing because they lack the scalability, security and consistency necessary to deliver exceptional personalized experiences, âsaid JR Sherman, CEO of RainFocus. âWe’re always listening to our customers, and this round of funding will instantly accelerate our innovation and strengthen our integration into the martech stack. Most importantly, we give our customers the ability to expand their use of the event platform and incorporate smaller events, meetings and virtual experiences as part of their overall demand generation programs and their customers’ trips. “
âThe RainFocus team is pioneering a new approach that combines world-class event management with a unified data solution. The result is a shift in the way companies view events as an integral part of their data-driven marketing investments, âsaid Dave Welsh, KKR Partner and Head of Next Generation Technology Growth.
Jimmy Miele, Principal of the KKR Next Generation Technology Growth team, said, âRainFocus has built flexible and scalable technology and a strong culture focused on delivering a great solution and experience. We can see this in RainFocus’ exceptional customer loyalty and explosive growth sustained during the dramatic shift to hybrid and virtual events over the past 18 months. We look forward to supporting this talented team in further improving their range of solutions to serve customers from all industries and regions. “
RainFocus is one of the fastest growing marketing software companies, having organically doubled its revenue in the past 12 months and expanded its global footprint. With a cross-section of customers from the world’s best-known brands and innovative marketing teams, RainFocus has achieved the following additional growth points that highlight its business traction and platform adoption:
- Rapid growth in platform adoption with events growing by 430% in the past 12 months
- 5.1 million business users
- Deliver localized experiences in 167 countries simultaneously
- 9+ million session engagements
- 99.999% uptime
According to The Forrester Wave â¢: B2B Marketing Events Management Solutions, Q1 2021 Report, â[RainFocus] boasts the broadest list of out-of-the-box technology integrations, training and support services, and native on-site production and rental services, making it an all-in-one contender for running hybrid events when he returns in person . “
As companies master the return to in-person and hybrid events, RainFocus will continue to focus on building the strength of its platform and services, building trust with customers, and maintaining its commitment to innovation in attendee experience, exhibitor activation, and speaker skills at the world-class events of its customers.
Latham & Watkins LLP acted as legal advisor to KKR on the transaction.
RainFocus is a next generation event marketing platform built from the ground up to capture, analyze, and use an unprecedented amount of data for far better events and conferences. As a true SaaS platform, RainFocus simplifies event registration, content management and exhibitor activation seamlessly across physical, virtual and hybrid experiences, all from a single dashboard. More information is available at www.rainfocus.com.
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- Visit RainFocus.com to learn more about our event marketing and management platform. Request a demo when you’re ready to get started.
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- Grow your career and help reshape the events industry at RainFocus. Apply here.
KKR is a leading global investment firm providing alternative asset management, capital markets and insurance solutions. KKR strives to generate attractive investment returns by adopting a patient and disciplined investment approach, employing world class people, and supporting the growth of its portfolio companies and communities. KKR sponsors mutual funds that invest in private equity, credit and real assets, and has strategic partners who manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the leadership of The Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For more information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com and on Twitter @KKR_Co.
About JMI Equity
JMI Equity is a growth public company focused on investing in leading software companies. Founded in 1992, JMI has invested in over 155 companies in its target markets, successfully completed more than 105 exits and raised more than $ 6 billion in committed capital. JMI works with exceptional management teams to turn their companies into industry leaders. More information is available at www.jmi.com.